Correct option is C
The correct answer is (c) Globalisation increases economic disparities.
Explanation
While globalisation promotes economic growth, technological advancement, and product diversification, it also leads to economic disparities between developed and developing nations. Wealthier countries and large multinational corporations benefit more, while smaller economies and local businesses may struggle to compete. This widening income gap is a key criticism of globalisation.
Information Booster
- Positive Aspects of Globalisation:
- Increases use of advanced technology – Encourages innovation and knowledge sharing.
- Increases diversification of products – Expands consumer choices with global goods.
- Increases access to global markets – Boosts trade and business opportunities.
Additional Knowledge
- Economic Disparities Due to Globalisation:
- Unequal wealth distribution – Benefits large economies more than smaller ones.
- Exploitation of labor – Low-wage workers in developing nations face harsh conditions.
- Loss of local industries – Small businesses struggle against multinational corporations.